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Seadrill sells Paratus stake

Offshore drilling contractor Seadrill has struck a deal to sell its entire 35% shareholding in Paratus Energy Services, formerly Seadrill New Finance, and certain other interests.

Paratus owns five premium jackups in SeaMex fully contracted with Pemex, 50% of Seabras with six pipe-laying vessels contracted by Petrobras, and certain debt and equity interests in oil services company Archer.

In a trading update on Friday, Paratus said the buyers were John Fredriksen’s family investment vehicle Hemen, funds and accounts managed by Lodbrok Capital and Melqart Asset Management.

The sale is expected to complete in the fourth quarter of this year or early 2023, following regulatory and certain board approvals. Hemen is expected to own around 32% of Paratus, while Lodbrok and Melqart should have 20% and 14%, respectively.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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